Gibbs Wealth Management Buys Shares of 3,556 Intercontinental Exchange Inc. $ICE

Gibbs Wealth Management purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,556 shares of the financial services provider’s stock, valued at approximately $559,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the last quarter. Empowered Funds LLC boosted its stake in Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after buying an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 289 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. Barclays reduced their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. TD Cowen dropped their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Finally, Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.58.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,425 shares of company stock valued at $2,046,324. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $145.93 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $82.53 billion, a PE ratio of 21.24, a P/E/G ratio of 1.51 and a beta of 0.94. The business has a 50-day moving average price of $139.50 and a 200 day moving average price of $154.08. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.